American medical students are placing bets on crypto prediction markets to pay for tuition: shocking survey data
Cryptocurrency prediction markets such as Polymarket and Kalshi are becoming not just a tool for speculation, but a vital financial resource for future healthcare workers in the U.S. According to a new study, nearly 70% of medical students already use these platforms to cover their education costs. However, the reality is that only 48% of them report net profits.
A survey covering 1,000 respondents showed that 45% of students placed bets on Kalshi, and 31% on Polymarket. Meanwhile, 73% of participants access these platforms at least several times a week, and 15% do so daily. This is no longer entertainment but a formed habit driven by financial necessity: 67% of respondents see such services as a way to pay for their studies. Moreover, 24% have already incorporated bets into their personal budgets, and another 43% are considering this option.
However, gambling does not always pay off. Only 40% of students recorded net profits, while about half broke even. Typical wins or losses range between $100 and $1,000, although one in ten operates with sums exceeding $5,000, and two reported amounts over $50,000. At the same time, nearly 30% of respondents admitted they cannot consistently cover expenses for even one month.
The study also revealed a notable gender gap. Among respondents, 80% are women, but men use betting platforms much more actively: nearly half of male students resort to such services, whereas among women, this share is only about one-fifth.
Why is this happening? Analysts link the trend to a combination of high education costs and a severe lack of time. Medical students, whose academic workload is enormous, cannot combine studies with part-time jobs. Therefore, the fastest ways to get cash—even with high risk—become attractive. As noted, the nursing profession, which should be a pillar even in the age of automation, is now more difficult to finance than a law degree.
My expert commentary: This situation is a wake-up call for the entire industry. Crypto prediction markets, originally created for hedging and event analysis, are turning into a survival tool for the most vulnerable segments of the population. If regulators do not pay attention to this trend, we risk seeing a rise in financial instability among those who are supposed to become the backbone of the healthcare system. In the long term, this undermines trust in both the educational system and the crypto platforms themselves.